Billionaires Want to End Capitalism As We Know It

Richard
Branson, Arianna Huffington and a group of other CEOs and former world
leaders have formed a group whose goal is to end capitalism as we know
it. The nonprofit, known as “The B Team,”
was created to help promote a “better version of capitalism, one that
prioritizes people and planet over profit.” This ignores the fact that
capitalism is, by definition, motivated by profit.

The
team, led by Branson and German businessman Jochen Zeitz, calls for
drastic changes in how the economy works. These include “new rules and
models for the future of business – not incremental ‘change as usual.’”

It’s no surprise that a group including Arianna Huffington would be promoted by the Huffington Post, but CNBC Europe
also interviewed Branson and Zeitz on June 13 and had only good things
to say about their project. In the “Closing Bell” interview, Branson
said that part of the motivation for businesses to follow the goals laid
out by The B Team would come from being viewed better by their
employees. Businesses should “not just think about this quarters profit
but also think, you know, ‘what are we doing to try to tackle our
environmental issues, how can we do it better,’” Branson said.

According to The B Team’s mission statement:
“Plan A - where companies have been driven by the profit motive alone –
is no longer acceptable.” According to Branson, the group will work
with “government agencies, the social sector and business leaders” in
order to achieve their goals. Branson and Zeitz launched the group on
Oct. 3, 2012.

The group is also heavily influenced by The Elders,
a group of former global leaders that focuses on world peace. This
group includes former U.S. president Jimmy Carter, and former
Secretary-General of the UN Kofi Annan.

Below
is a list of the members of The B Team. The group includes CEOs and
former world leaders from around the globe. In fact, only two members,
Arianna Huffington and Kathy Calvin, are from the United States. Both of
them also worked for AOL/The Huffington Post.

Founders:

Sir Richard Branson, founder and chairman of Virgin Group

Jochen Zeitz, chairman of Puma

Members:

Arianna Huffington, Chair, President & Editor In Chief, The Huffington Post Media Group

Shari Arison, Owner, Arison Group

Kathy Calvin, President and CEO, United Nations Foundation, Former President of the AOL Time Warner Foundation

Mo Ibrahim, Founder, Celtel

Guilherme Leal, Founder & Co-Chairman, Natura

Strive Masiyiwa, Founder & Chairman, Econet Wireless

Dr. Ngozi Okonjo-Iweala, Coordinating Minister for the Economy and Minister of Finance, Government of Nigeria

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